QS Depreciation Report
A Quantity Surveyor Tax Depreciation Report is a document that investors use to claim tax deductions for the depreciation of their investment property.
Depreciation is the decrease in the value of the building and its belongings over time due to wear and tear. The report outlines the deductions that an investor can claim for each year based on the property's age, condition, and type.
The report is also referred to as a Capital Allowance and Tax Depreciation Schedule or a Depreciation Schedule/Report. Only a qualified and registered Quantity Surveyor with experience in estimating construction costs and depreciation rates can prepare the report. The report can assist investors in reducing their taxable income and increasing their cash flow from property investments.
